Payward Files $7.2M Claim Against PowerTrade Over Unauthorized Crypto Trades on June 25

According to CoinDesk, Payward, the parent company of crypto exchange Kraken, filed a claim in US federal court on June 25 against PowerTrade, alleging misappropriation of $7.2 million in digital assets and unrealized gains. Payward said PowerTrade removed more than $6 million from its account through approximately 100 unauthorized corrections that retroactively canceled profitable trades months after settlement, shifting the account from a $6 million surplus to a negative $2 million balance. The El Salvador-based crypto derivatives platform and its co-founders face a worldwide freezing order issued by the Dubai International Financial Centre Courts.
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